M&M unit offloads 3.58 pc stake in CIE Automotive for 119 mn euros

Mahindra & Mahindra on Thursday said its subsidiary has sold 3.58 per cent stake in CIE Automotive S.A for around 119 million euros.

Mahindra Overseas Investment Company (Mauritius) Ltd (MOICML), a wholly-owned subsidiary of the company, has sold part of its stake representing 3.58 per cent of CIE Automotive S.A outstanding shares, the Mumbai-based auto major said in a regulatory filing.

CIE Automotive SA is an associate of MOICML, it added.

Mahindra shares were trading 0.6 per cent up at Rs 3,672.20 apiece on the BSE.